First, calculate the monthly renewal premium amount(s). The initial premium level may step down a time or two before the loan reaches the automatic termination point--78% LTV. Calculate the P&I schedule (if the loan is an ARM, refer to Comment #10 in the Official Interpretations of Section 1026.17(c)(1).) Layer the monthly MI renewal premiums over the P&I amount(s) in order to reconstruct the entire payment schedule. Verify the AF and then load it all into APRWIN. Cross your fingers.
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...gone fishing.